trending Market Intelligence /marketintelligence/en/news-insights/trending/6leesvJn1nC1X08NzVqXxQ2 content esgSubNav
In This List

Golden Queen raising US$25M to slash debt, buy mining equipment

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Golden Queen raising US$25M to slash debt, buy mining equipment

Golden Queen Mining Co. Ltd. said Nov. 28 that it filed a final short form prospectus in Alberta and Ontario in connection with a previously planned rights offering to raise about US$25.0 million.

Pursuant to the offering, each shareholder on record as of Dec. 1 will receive 1 right for each common share held, entitling the shareholder to purchase 1.7 shares at 13.25 U.S. cents, for up to 188,952,761 shares of the company.

The rights will be exercisable for 40 days following the effective date.

Shareholders who fully exercise their rights will be entitled to subscribe for additional shares that were not subscribed for in the rights offering.

Golden Queen plans to use the net proceeds to reduce corporate debt, fund its 50% portion of costs required to buy additional equipment for the Soledad Mountain gold mine in California as well as for general corporate and working capital purposes.